the moneygardener

Tuesday, January 3, 2012

Whether your small business is a start-up or fairly well established there will come a time when an infusion of cash is necessary. Maybe you want to do a big marketing push, or maybe equipment needs to be upgraded. Whatever the reason, as a small business owner, you're probably counting pennies at the same time you're considering options.

While loans may be a good idea, unless you can pay them back fairly quickly you may end up paying a significant amount of interest. Then, too, if your business is very new, you might not have the necessary credit or collateral to even qualify for a loan.

Fortunately, banks are not your only option. Nor are credit unions, or even the SBA. Instead, you should look into merchant cash advances. These are businesses that give you money based on your existing (or projected, with supporting evidence) credit card receipts. Advance amounts are available up to $750,000, although most are much smaller, and there are no credit checks, and no note to sign.

How is a merchant cash advance secured if there's no note? Most of these companies are affiliated with one or more credit card processing companies. In order to obtain an advance, you'll be required to have one of those companies (most of the time you get to pick which one) handle your credit card transactions. The company giving you the advance will be repaid by receiving a small percentage from every credit card sale you make until the advance has been repaid.

Funds from such an advance are generally released to you within 72 hours of approval, and the paperwork is pretty simple. Most cash advance providers require six or so months of your credit card sales, and a simple application form. Once your initial advance has been repaid, you can even request another, which will usually be approved more quickly.

If a merchant cash advance sounds too good to be true, remember this: the amount of money you can get is based on existing credit card sales, so if your business doesn't take plastic, you won't qualify. As well, you are agreeing to switch credit card processing firms.

Running a small business, whether it's established or not, comes with many challenges, but with a merchant cash advance those challenges can be met with ease.

Tuesday, December 20, 2011

If you are looking to grow and sustain your business, it will help you to know who your most profitable customers are. Identifying which customers are worth the most to your business is important, as it allows you to better identify your priorities and subsequently develop strategies to meet those priorities.

One thing to bear in mind is that the most profitable customers aren’t necessarily the obvious ones. For instance, if you have a client that is a major business in their own right, you might be tempted on first glance to assume that they’re a fantastic customer to have. Of course, they may well be a great customer – if only because of the prestige they bring – but it doesn’t mean they’re the most profitable. They might only provide you with occasional work.

This means you need to look a little deeper at your customer data to work out where your profit comes from. CRM software can help you with this. It makes good sense to keep a good CRM system no matter what, as it keeps all your customer information in one place and makes communication with clients much easier than it would otherwise be. CRM systems, though, can also help you to identify trends and things of note in your data.

This includes which customers are the most profitable. For example, you might find that even though one customer bought in a large amount of money when they first started working with you, the revenue has since tailed off. However, a company that was initially a small customer might now provide you with a good, regular income that adds up over time. They all have their worth and their place in your business, but knowing how much customers bring in and how often they use your business helps you with your planning.

For instance, you will be able to tell where it would be more worthwhile for you to target your marketing, or which customers might respond better to special deals. This is all information that you can use to enhance the sustainability of your business and, with any luck, make your profitable customers even more profitable.

Overall, the most profitable customers will vary from business to business; no company or customer is the same. However, having good CRM solutions in place will help you to identify where the best of your revenue comes from and, once you have determined this, you’ll be able to put the information to good use.

Wednesday, November 2, 2011

Wow! I have just completed the largest challenge that I have ever faced in life and it has been exhilarating!

Planning a business venture and then actually starting and operating the business for 6 months is quite a ride. Ups and downs have been the order of the day for many of my last 365 days. I have put my capital, heart, and soul into this venture and breaking even has been elusive at the best of times. Marketing wisely, controlling costs, dealing with operational issues, and keeping customers happy has been a daily challenge.

The business that I have embarked upon is a 24/7 fitness club called Anytime Fitness. It is actually the world's largest 24hr, co-ed fitness franchise and a very impressive franchise indeed.

Saturday, June 25, 2011

Today, with the rising costs of food, fuel, and other of life's necessities, families are struggling to maintain their household budgets. For this reason, saving money on insurance coverage you need has become essential. When families find ways to cut down on their necessary expenses, they can put the savings towards important things. For instance, savings can be put towards such things as: children's education, paying off outstanding bills such as credit card bills, paying the mortgage, establishing an emergency fund, establishing a retirement savings plan, and much more. One necessary expense that families can reduce their costs is when they buy insurance.

Just about every family has some type of insurance, whether it is health, life, auto, or homeowners insurance. Buying cheap insurance is one way a family can cut down on a necessary expense. Fortunately, families have resources available to them to locate cheap insurance. The internet is a great resource to finding cheap insurance. Buying cheap car insurance online allows you to avoid paying high premiums so you can put the savings toward other important expenses. Cheap insurance quotes are available with just a click of the mouse.

When searching for cheap insurance online, you will find a free insurance quote tool which can be found on most insurance websites. All that you have to do is fill out a simple online form and click submit. An extensive search of an insurance policy database is performed to locate insurance policy quotes from different insurance carriers that match your needs. It will take about a minute or less to find and return a list of insurance quotes matching the criteria that you submitted in the online form. These quotes will be the cheapest quotes. You can then read through each quote to determine the best policy for you.

When looking to find ways to manage the household budget, saving money on insurance is one way you can reduce the costs of one essential expense. During these difficult economic times, we could all use a bit of extra money in our wallets. Buying cheap insurance online is one way people can save some of their hard earned money.

Monday, June 13, 2011

Sometimes life gets in the way of a great blog like the monegyardener. I have of course been very buy launching a new franchise, buying a new home, and raising our two boys. I will be back to the moneygardener at some point soon; I just can't say when yet.

Tuesday, February 1, 2011

A cash advance loan – money you borrow from a payday loan provider, based on your next paycheck – can be either a very useful or potentially destructive tool. Millions of people who work hard at their jobs use cash advances in order to cover unplanned, emergency costs that exceed their current checking account balances. Done right, a cash advance can be a lifesaver.

So where can a cash advance loan be a bad idea? Simply, if the borrower fails to pay it back quickly. These are designed for emergencies, and once the emergency is past the loan should be paid off. There are three ways in which the borrower can make sure they effectively pay off the cash advance in a timely fashion:

If you budget for reducing costs in the next month. In other words, you are getting the money you would use two or three weeks from now. That means you have to reduce your expenses then. Ask yourself, what expenses can be cut out next week and next month?

If your loan amount is manageable within your payscale. Your cash loan should be an amount that is reasonably within your ability to repay it. Most lenders restrict the loan to an amount less than what one paycheck would be, so in effect this is done for you. For good reason.

If you reduce expenses by a commensurate amount. One cash advance loan is not going to solve all current and future economic challenges. If you run consistently behind in expenses relative to your payscale, there is but one solution: cut back. (You could also get a second job, but in the current economic conditions that may not be an option.)

So if you decide to proceed with getting a cash advance loan – which may be the most responsible thing you could do – you are wise to plan a quick payoff. It will reduce the overall costs of the loan in fees, interest and penalties.

this has been a sponsor post and does not represent the views of themoneygardener.com

Friday, January 14, 2011

Car insurance is mandatory for anyone who wants to legally drive on our roads and highways. Because car insurance is compulsory, most of us would love to find the cheapest car insurance policy possible without sacrificing essential coverage. Fortunately, with so many insurance providers competing for our business, there are ways that we can locate and purchase affordable car insurance. Below are 3 key ways to save on your car insurance:

1. Online Comparison: Today, the internet has become a vital tool to locating cheap products and services. When it comes to locating cheap auto insurance, consumers now have access to online search tools located on insurance sites that allow them to compare a number of car insurance policies from various insurance providers. It is an easy and fast way to receive several cheap insurance quotes. Consumers can then review each quote and the policy coverage and pick the best policy that fits their budget and coverage needs. You can save hundreds of dollars using this free search tool.

2. Cost-Cutting Measures: There are a number of things you can due to lower your insurance costs. For instance, if you pay a higher a deductible, you will pay a lower monthly premium. Sometimes you can get a discount if you pay the premium for the full year instead of monthly. You can also lower your costs by getting rid of unnecessary coverage such as collision coverage if you have a low valued car. As well, combining you car insurance policy with another policy such as your homeowners insurance policy will result in a discount.

3. Take Advantage of Discount Offers: Insurance providers will offer a number of discounts to secure your business. You can save on your car insurance by taking advantage of as many discount incentives as possible. You can get discounts for such features as: adding anti-theft devices and safety features, maintaining low-mileage, driving a fuel efficient vehicle such as a Hybrid, completing a driver safety program, maintaining a clean driving record, maintaining a good credit history, and more. As well, there are also age discounts and discounts for maintaining a certain school grade-point average.

Although you need car insurance to be able to legally drive, you do not have to pay high premiums. It is easy to locate and purchase cheap car insurance when you know all of the key ways to reducing your insurance costs.

Wednesday, January 12, 2011

Wow, it really has been a long time since my last post on themoneygardener. I've been extremely busy looking after our two kids and getting our business off the ground. The market has been rolling right along pleasantly actually. Seems like unemployment and housing is taking very long to come back in the US, but I believe that it will be back and that's what the market is anticipating. I haven't made any trades lately, just collecting dividends and paying less attention to daily fluctuations.

Friday, November 5, 2010

Energy distributor, Inter Pipeline Fund (IPL.UN) and telecommunications firm Telus (T.A) have both hiked their dividends. Telus by 5% and Inter Pipeline by about 7%. These two companies are both considered utilities. It is very nice to receive every increasing cash dividends from these two stable firms.

Friday, October 22, 2010

I have used BMO InvestorLine to trade equities for about six years now. Over the time that I have held my account I have seen vast improvements in their site interface, research, and functionality. I would highly recommend InvestorLine to anyone considering opening a an investment account or switching from another broker.

If you open a minimum $10,000 account right now and use my referral code 978804481, you can receive $50 or even $100 bonus cash after you open your account!

Wikinvest Wire

some background

My wife and I are both 31, we contribute to RRSPs, containing low cost mutual funds. We're set up financially for retirement; but what fun is that?

So we decided to start a non-registered portfolio that we can actually reap some benefit from before we move to Florida and join a shuffleboard league. We are building a non registered portfolio for our family's future. The Overriding Goal is to Make Money Less Important in our Lives. Not to be cliché, but one might use the word 'FREEDOM'.

I'll document our progress on the moneygardener while taking the stock market, business happenings, and financial life in stride.

investing philosophy

i'm foremost a buyer, with a long-term view.

i only buy stocks that I'd average down on.

i'll be patient, disciplined, & stick to my system.

i don't worry or panic, & I always remember my reason for the initial purchase.

Forex or forex exchange trading requires due diligence and a disciplined
mind.
We urge potential investors to study both fundamental analysis and
technical analysis before opening a live forex account
If you're an investor who is considering trading in the $3 trillion a day
forex market, consider opening a forex demo account to test your skills.

Looking to create your own forex money garden? With online forex you can begin your own currency trading from home! For fun or real money you can earn money with the changing currencies and stocks. Online forex is one of the most profitable home businesses, but mind, you need to understand the forex market before you make profit!

National Payday suggests that all payday loans be used on a short-term basis. Because payday loans are for small amounts and due on your very next payday, they should be based solely on need and urgency.